385 Shares in Medtronic plc (NYSE:MDT) Bought by Optiver Holding B.V.

Optiver Holding B.V. purchased a new stake in shares of Medtronic plc (NYSE:MDT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 385 shares of the medical technology company’s stock, valued at approximately $31,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Beacon Pointe Advisors LLC boosted its stake in Medtronic by 21.4% in the fourth quarter. Beacon Pointe Advisors LLC now owns 20,356 shares of the medical technology company’s stock worth $1,626,000 after buying an additional 3,589 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in shares of Medtronic in the 4th quarter valued at $13,546,000. Quarry LP grew its holdings in shares of Medtronic by 24.5% during the 4th quarter. Quarry LP now owns 7,894 shares of the medical technology company’s stock valued at $631,000 after purchasing an additional 1,551 shares during the last quarter. Shorepoint Capital Partners LLC raised its position in Medtronic by 2.1% in the 4th quarter. Shorepoint Capital Partners LLC now owns 34,697 shares of the medical technology company’s stock worth $2,772,000 after purchasing an additional 707 shares during the period. Finally, Oxford Asset Management LLP boosted its position in Medtronic by 70.1% during the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company’s stock valued at $594,000 after buying an additional 3,068 shares during the period. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MDT. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Truist Financial dropped their price objective on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird increased their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $96.14.

Medtronic Price Performance

Shares of MDT stock opened at $84.66 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock has a market cap of $108.58 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 2.22 and a beta of 0.79. The business’s fifty day moving average is $88.01 and its 200 day moving average is $87.19. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Friday, March 28th. Medtronic’s payout ratio is 85.11%.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.